According to the Associated Press, “Seniors enrolled in seven of the 10 most popular Medicare prescription drug plans will be hit with double-digit premium hikes next year if they don't shop for a better deal, says a private firm that analyzes the highly competitive market.”
There are new changes coming to Medicare Part D prescription drug plans. With several new plans to choose from, it is important for each person who qualifies to ensure that the plan they have continues to be the ideal plan for them. It may be possible to save money by choosing an alternate plan and there are resources available to help you and your family evaluate plan options to find the best plan for you.
A Few Things to Consider
Understanding your Medicare D options can be overwhelming and confusing. However, it is a smart idea to review your Medicare D plan options each year for the following reasons:
Cost: What is the total annual cost of premium and medication costs? Many people only take into consideration their monthly premium, but it is important to look at your deductible, the monthly premiums and your co-pays to see how much you are paying and to see if you can do better with a difference company.
Coverage: Will the medicine you take be covered by your plan in 2013? Formularies are constantly changing. We can’t assume that a medicine that was covered this past year will be covered next year.
Convenience: Will your plan allow you to go to your local pharmacy? Sometimes it’s even possible to save money by obtaining your medication by mail order.
Open enrollment begins October 15 and runs until December 7. If you live in the Greater Dallas area, JFS is available to help you evaluate your current Medicare D plan and potential alternative plans.